Steps to intensify tax collection in Kozhikode
Income Tax (IT) Department officials under the Kozhikode circle, covering five northern districts of the State, have initiated steps to collect information regarding construction of houses and buildings exceeding 3,000 sq ft each as part of intensifying tax collection in the region.
Disclosing this at a press conference here on Thursday, P.N. Devadasan, IT Commissioner, Kozhikode, said that the details of people who had constructed houses and buildings exceeding 3,000 sq ft each were being collected from panchayats and municipalities.
He said that it was not easy for people to hide financial transactions from the IT Department these days as the officials were getting information about transactions from property transfer exceeding Rs.5 lakh each as also transactions involving co-operative bank deposits, credit cards, mutual funds, company shares and vehicle sale. In the last year alone, the IT officials collected eight lakh pieces of information concerning such transactions, he added.
Urging the people to voluntarily pay their IT to avoid penalty and prosecution, Mr. Devadasan said that the IT officials in the Kozhikode region had conducted nearly 60 surveys and 30 searches this year.
Unaccounted transactions involving Rs.200 crore could be found out in all these cases, he said adding that the income tax for these transactions would be around Rs.70 crore.
In Kannur district alone, 20 surveys were conducted and unaccounted amount of Rs.55 crore were unearthed, he said. IT revenue from the five districts totalled Rs.500 crore last year, he said adding that large number of people with income was not paying income tax.
The IT Commissioner said that the department had opened Ayakar Sevak Kendra in the IT Office here for assisting the tax payers to file their returns. The tax payers could also access information from the department’s website.
The IT office here had also expedited the work to send IT refund to tax payers as refund was given to tax payers who had submitted their returns till last week, he noted.
IT revenue from Kozhikode region was Rs.500 crore last year Ayakar Sevak Kendra to assist in filing of returns
IT revenue from Kozhikode region was Rs.500 crore last year
Ayakar Sevak Kendra to assist in filing of returns